About
Glaxosmithkline Pharmaceuticals Ltd
GlaxoSmithKline Pharmaceuticals Limited is a subsidiary of UK-based GSK Plc., a global biopharma company to unite science, technology and talent to get ahead of disease together. The Company is headquartered in Mumbai and it has six branch offices, a manufacturing facility at Nashik in Maharashtra, 22 contract manufacturing organisations (CMOs) with regional and sales hubs across India. The Company is engaged interalia, in the business of manufacturing, distributing and trading in pharmaceuticals.
The Company's portfolio includes General Medicines, Vaccines and Specialty medicines that help prevent and treat disease. Their prescription medicines range across therapeutic areas, such as Anti-Infectives, Dermatology, Gynaecology, Diabetes, Oncology, Cardiovascular Disease and Respiratory Diseases. They also offer a range of vaccines, for the prevention of Hepatitis A, Hepatitis B, Invasive Disease caused by H, Influenza, Chickenpox, Diphtheria, Pertussis, Tetanus, Rotavirus, Cervical Cancer and Others. They have two manufacturing units in India, located at Nashik and Thane. Also, they have a clinical development centre in Bangalore.
GlaxoSmithKline Pharma Limited was incorporated in November 13, 1924. During year 1956, the Company began primary production of vaccines at Worli. In the year 1960, the company started manufacturing Infant foods at milk drying plant at Aligarh. They also opened manufacturing facility for pharmaceuticals in Mumbai. In 1961, the Company started manufacturing Vitamin A and Betamethasone at new plant at Thane using imported raw materials. The Company registered as a limited company in the year 1968. Also, they introduced the Animal health products.
In the year 1971, the company built the Research & development laboratory at Thane. Also, they relocated the SmithKline & French plant from Mumbai to Bangalore. In the year 1983, they commissioned the Nashik factory. SmithKline & Beecham became a public limited company under the new name of Eskayef Ltd in the year 1984 and one new Plant was set up in Mysore for manufacture of bulk drugs. In the year 1985, the company's second basic drugs factory was inaugurated at Ankleshwar, Gujarat. In the year 1986, the company launched joint venture projects Vegepro Foods and Feeds Ltd and K G Gluco Biols. The company's name was changed to Glindia Ltd in the year 1987. In the year 1988, the company commenced the production of bulk drug Ranitidine at Ankleshwar. Also, they started a joint venture project with Hindustan Foods Ltd for the manufacture of extruded foods at Usgao, Goa.
In the year 1989, the company commenced their Zinetac production at Nashik. The company's name was changed from Glindia Ltd to Glaxo India Ltd. In the year 1990, the production of the bulk drug, cephalexin was commenced at Ankleshwar and the salbutamol inhalers at Nashik. Glaxo rated amongst the first five of India's most respected companies (4th place), in a survey by Businessworld magazine. An agreement was signed with the Council of Scientific and Industrial Research (CSIR) during 1991. In the year 1992, the company sold their trade investments in Vegepro and Feeds Ltd. In the year 1993, they sold their investment in Hindustan Foods Ltd and Dempo Dairy Industries Ltd. Cetzine, a second-generation anti-histamine and research product of UCB Pharma (Belgium) was launched under a co-marketing agreement. In the same year Glaxo received recognition from the Ministry of Commerce as an export house.
In the year 1994, the company sold their Family Products Division to H J Heinz for a sum of Rs 210 crore. The Mysore plant received ISO 9002 certification and the new Iodex plant was inaugurated in Bangalore. In the year 1995, they inaugurated the government approved state-of-the-art Pharmacy Research & Development Centre (PR&D) at Thane to cater to the unmet medical needs and to exploit local commercial opportunities.
In the year 1998, the company acquired Biddle Sawyer Group of Companies, which was struggled in the year before. In the year 2000, Agrivet Farm Care (AFC) tied up with Merial, the world's largest Animal Health Company, to market poultry vaccines. The company ranked 6th in 'Business Today' - Stern Stewart & Co. listing of India's best Wealth Creator Companies and also the launched Seretide for Asthma. The merger of SmithKline Beecham Pharmaceuticals (India) Ltd into Glaxo India Limited was completed and the name of the company was changed to the present name GlaxoSmithKline Pharmaceuticals Ltd. Businessworld and the Indian Market Research Bureau (IMRB) named GlaxoSmithKline as India's most respected Pharmaceutical Company in a survey in the year 2003. During the year, the company launched Cetzine (Cetirizine; anti-histamine), Zimig (terbinafine; anti-infective), CCM (calcium citrate maleate; nutritional), Cobadex CZS (multivitamin with trace elements).
In the year 2004, the company launched Priorix (measles, mumps, rubella vaccine). In the year 2005, the company launched oral contraceptives: Elogen (desogestrel and ethinylestradiol) and Zerogen (progesterone only pill). They entered into the diabetes therapeutic segment with the launch of Windia (rosiglitazone) and Windamet (rosiglitazone and metformin). In the year 2006, the company made an in-licensing alliance with Eisai Pharmaceuticals, Japan and launched Parit (rabeprazole; gastrointestinal therapy area). Also, GlaxoSmithKline divested their Agrivet Farm Care (AFC) animal health business. In the year 2007, the company launched Carzec (carvedilol) and Zemetril (cefprozil). In March 2007, the company opened new Medicinal Chemistry Laboratory at their R&D facility in Singapore. Also, they divested their other peripheral business of fine chemicals with consideration of Rs 240 crore on slump sale basis to Thermo Electron LLS India Private Ltd.
In the year 2008, the company increased the installed capacity of Tablets and Capsules from 6750 million nos to 6950 million nos. They increased the production capacity of Solids including Powders and Ointments from 1550 tonnes to 2225 tonnes. In January 2008, the company launched two of their new innovative Diphtheria, Tetanus and acellular Pertussis (DTP) vaccines, such as Boostrix and Infanrix. Also the company in well positioned to launch the breast cancer drug, Tykerb and the rotavirus vaccine, Rotarix during the year. Also, they rolled out three new Business Partnering initiatives during the year.
In the year 2009, the company launched new products, namely Benitec A (Olmesatan in combination with Amilodipine) in Cardiology, Dermocalm (Calamine lotion) in Dermatology, Ventorlin CFC free inhaler (Salbutamol) in Respiratory and Esblanem (Meropenem) in Antibiotic segments. Their Nashik site commenced manufacture and supply of Albendazole tablets to WHO for the Lymphatic Filriasis eradication programme.
In the year 2010, the company increased the installed capacity of Solids including Powders and Ointments from 2225 tonnes to 2600 tonnes. They launched some new products namely, Mycamine inj (Micafungin) in-licensed from Astellas and Parit D capsules (Rabeprazole in combination with Domperidone) in-licensed from Eisai. Cefspan (Cefixime - oral antibiotic) was relaunched with good success. Other branded generics launched during the year were Modvate 3 cream (Beclomethasone in combination with Clotrimazole and Neomycin) and Modvate AF cream (Beclomethasone in combination witr Clotrimazole) in Dermatology. Formulations of Atorvastatin and Rosuvastatin tablets were launchec in Cardiology under the brand names 'Lilo' and 'Rosutec' respectively. The combination of Paracetamol with Tramadol was launched under the brand name 'Calpol T'.
In the year 2011, the company foray into branded generics market. Zobactin is ranked as the No. 2 brand (Dec MAT 2011, H.S.A) in a market which has more than 56 brands of Piperacillin+Tazobactum. In the Meropenem market, Esblanem is ranked at 6th position (Dec MAT 2011, H.S.A). After the successful launch of Tykerb in 2008, they expanded their presence further by introducing two new segments, Kidney Cancer and Hematology with launch of Votrient and Revolade.
In 2012, the company Introduces Metered Dose Inhaler with dose counter. On 30 September 2015, the company announced the completion of its transaction with Novartis Healthcare Pvt. Ltd. (Novartis India) whereby the company has acquired Novartis' vaccines business and divested its marketed oncology portfolio to Novartis India. This follows a global transaction between GlaxoSmithKline plc, UK (GSK) and Novartis AG, Switzerland (Novartis) which was completed in March 2015 on the same basis. The acquisition of the vaccines business of Novartis provides GSK with an exciting opportunity to build an even stronger, sustainable global vaccines business. The transaction will enhance GSK's vaccines portfolio and bring together its expertise in virology, bacterial infection and technological platforms to deliver a reliable supply of high quality vaccines.
During the quarter ended 30 September 2016, the company successfully launched Priorix-Tetra, a combined measles, mumps, rubella and varicella vaccine.
During the quarter ended 31 December 2016, the company successfully launched EnteroPlus, a probiotic food supplement. The company also restored the manufacturing of a key brand, Neosporin, an antibiotic used to treat minor wounds.
During the quarter ended 30 September 2017, the company announced its intention to dispose of its surplus land at Thane in Maharashtra to Oberoi Realty for Rs 555 crore subject to receipt of all regulatory and statutory approvals, as well as various conditions as agreed with the purchaser.
During the quarter ended 31 December 2017, the company received the money in advance towards disposal of Thane land. During the quarter ended 31 March 2018, the company successfully launched Biopatch, a hydrophilic wound dressing that is used to cover a wound caused by the use of percutaneous medical devices. Biopatch is recommended in skin sterilization protocol to reduce the incidence of CRBSI. Patients at risk of CRBSI are the ones in ICUs, those receiving chemotherapy and patients undergoing dialysis through catheters.
The Company has allotted fully paid up equity shares of Rs 10 each during the quarter ended 30th September 2018, pursuant to a bonus issue in ratio 1:1, as approved by the members through postal ballot. 8,47,03,017 Bonus shares have been issued by capitalization of profits transferred from general reserve.
In December 2019, the Company launched Menveo a Quadrivalent Meningococcal Conjugate Vaccine.
During the FY2019, the Company spent Rs 291 crore as capital expenditure, mainly for the New Plant, Vemgal .
With an investment of over Rs 1000 crore, our upcoming manufacturing facility at Vemgal, Karnataka, will be the first greenfield pharmaceutical manufacturing site that GSK has built globally over the past ten years. It is also the first facility designed for the new GSK Production Systems (GPS), whereby it will deliver the concepts of zero accidents, zero defects and zero waste.
During FY2020,the company spent Rs 41 crore as capital expenditure, towards renovation of its corporate office into a modern workplace.
In September 2020, the Company launched tetravalent influenza flu vaccine, Fluarix Tetra to help combat influenza.
In June, 2021 Company launched the 'Nucala', first anti-IL5 drug, auto-injector device in India. It launched Trelegy Ellipta, the country's first single inhaler triple therapy (SITT) for the maintenance treatment of chronic obstructive pulmonary disease (COPD) patients. It launched Augmentin ES deploying technology in reaching out to key specialists in ear, nose and throat (ENT) and Paediatrics practice.
In 2022-23, the Company launched Shingrix, a vaccine for prevention of herpes zoster (HZ) and postherpetic neuralgia (PHN) in adults who are 50 years of age or older; launched Infanrix Hexa, vaccination of infants against diphtheria, tetanus, pertussis, hepatitis B, poliomyelitis and disease caused by Haemophilus influenzae type b; launched Synflorix against pneumococcal diseases and acute otitis media caused by Streptococcus pneumoniae and Non-Typeable Haemophilus influenzae (NTHi); launched Boostrix for immunisation against diphtheria, tetanus and pertussis in individuals; launched Havrix against disease caused by Hepatitis A Virus (HAV) from 1+ year of age; launched Menveo to prevent invasive meningococcal disease caused by Neisseria Meningitidis groups A, C, W-135 and Y; launched Fluarix Tetra for the prevention of influenza disease caused by the influenza A and B; launched Varilrix against varicella of healthy subjects and susceptible healthy close contacts.
Glaxosmithkline Pharmaceuticals Ltd
Chairman Speech
<dhhead>Message from the Managing Director</dhhead>
Leading the next together for India
Dear shareholders,
I am excited and humbled to take on the leadership role at this
incredible organisation. It is a privilege for me to be sharing my thoughts with you at a
momentous period in your companys illustrious journey. Your companys portfolio
in General Medicines contributes to over 80% of our business and we lead in several
categories with some of the most iconic brands in the Indian pharmaceutical market (IPM).
Your company continues to be the leading pharmaceutical company in the anti-infectives and
dermatology segments in India. Your company is also contemporising its General Medicines
portfolio with the launch of Calpol 650+ and Augmentin ES. Your company continues to
remain no. 1 in the self-pay vaccines market in India and our focus vaccine brands gained
market share during the year. We launched a new campaign called Faisla Sahi, Zindagi
Sahi partnering with Kareena Kapoor Khan and medical practitioners to increase
awareness amongst parents about the importance of children adhering to their vaccination
card in consultation with their paediatrician. With Nucala and Trelegy Ellipta, our goal
is to build the specialty segment with its innovative offerings in the respiratory
category as an additional growth lever. What will also differentiate your company is the
omnichannel approach as we connect with over 300,000 healthcare professionals (HCPs),
covering 10,000 distinct towns and cities across India through a skilled field force and
simultaneously improve the customer experience for our key stakeholders.
Our strategic focus
Your company plans to deliver exceptional launches with continued
emphasis on focus brands and develop responsive go-to-market initiatives to adapt to
evolving patient needs.
Your companys culture will continue to evolve where our people -
who bring our strategies to life - develop, thrive and do the right thing to fulfill our
ambition for patients.
Our portfolio, performance and how we will #LeadTheNextTogether
Your companys ambition for patients can be traced back to how we
have been serving patients for decades with quality products. Our focus brands are growing
ahead of the market with an evolution index (EI) greater than 100. Augmentin is ranked the
no. 1 brand and Calpol is the most prescribed brand in the IPM. Four of your
companys brands Augmentin, Calpol, T-Bact and Ceftum - rank among the top 50
brands in the IPM. The paediatric vaccines self-pay market is gaining momentum and we
continue to maintain leadership in the self-pay market in India. Five of your
companys vaccines featured among the top 15 vaccines in the self-pay market.
During the year, some of your companys brands were added to the
National List of Essential Medicines (NLEM). We have put in place plans to mitigate the
impact through a robust volume and cost optimisation strategy.
#LeadTheNextTogether
We are committed to create a new adult vaccines category in India with
the launch of Shingrix, our Shingles vaccine. This is the first non-live vaccine for the
Herpes Zoster virus in India and the first in its category. As per clinical trials, it has
shown an efficacy of 97% in patients aged 50 years and above and is approved in India for
the prevention of Herpes Zoster (HZ) and post-herpetic neuralgia (PHN) in adults of 50
years and older. Shingrix has been a resounding success in other countries where GSK
operates and has helped protect many patients against this painful disease. Our ambition
in the next few years will be to deliver double-digit top line growth and to positively
impact the lives of millions of Indians. We aim to deliver new launches to drive growth,
continue competitive performance with profitable growth in the base business and evolve a
culture where our people develop, thrive and continue to always do the right thing.
100 years of GSKs legacy in India
As GSK enters the centenary year of its legacy in 2024, we are ever
more committed to deliver on our purpose to positively impact patients lives,
continue to build trust established over nearly 100 years and deliver value with the
support of all our stakeholders as we #LeadTheNextTogether.
Bhushan Akshikar
Managing Director
Glaxosmithkline Pharmaceuticals Ltd
Company History
GlaxoSmithKline Pharmaceuticals Limited is a subsidiary of UK-based GSK Plc., a global biopharma company to unite science, technology and talent to get ahead of disease together. The Company is headquartered in Mumbai and it has six branch offices, a manufacturing facility at Nashik in Maharashtra, 22 contract manufacturing organisations (CMOs) with regional and sales hubs across India. The Company is engaged interalia, in the business of manufacturing, distributing and trading in pharmaceuticals.
The Company's portfolio includes General Medicines, Vaccines and Specialty medicines that help prevent and treat disease. Their prescription medicines range across therapeutic areas, such as Anti-Infectives, Dermatology, Gynaecology, Diabetes, Oncology, Cardiovascular Disease and Respiratory Diseases. They also offer a range of vaccines, for the prevention of Hepatitis A, Hepatitis B, Invasive Disease caused by H, Influenza, Chickenpox, Diphtheria, Pertussis, Tetanus, Rotavirus, Cervical Cancer and Others. They have two manufacturing units in India, located at Nashik and Thane. Also, they have a clinical development centre in Bangalore.
GlaxoSmithKline Pharma Limited was incorporated in November 13, 1924. During year 1956, the Company began primary production of vaccines at Worli. In the year 1960, the company started manufacturing Infant foods at milk drying plant at Aligarh. They also opened manufacturing facility for pharmaceuticals in Mumbai. In 1961, the Company started manufacturing Vitamin A and Betamethasone at new plant at Thane using imported raw materials. The Company registered as a limited company in the year 1968. Also, they introduced the Animal health products.
In the year 1971, the company built the Research & development laboratory at Thane. Also, they relocated the SmithKline & French plant from Mumbai to Bangalore. In the year 1983, they commissioned the Nashik factory. SmithKline & Beecham became a public limited company under the new name of Eskayef Ltd in the year 1984 and one new Plant was set up in Mysore for manufacture of bulk drugs. In the year 1985, the company's second basic drugs factory was inaugurated at Ankleshwar, Gujarat. In the year 1986, the company launched joint venture projects Vegepro Foods and Feeds Ltd and K G Gluco Biols. The company's name was changed to Glindia Ltd in the year 1987. In the year 1988, the company commenced the production of bulk drug Ranitidine at Ankleshwar. Also, they started a joint venture project with Hindustan Foods Ltd for the manufacture of extruded foods at Usgao, Goa.
In the year 1989, the company commenced their Zinetac production at Nashik. The company's name was changed from Glindia Ltd to Glaxo India Ltd. In the year 1990, the production of the bulk drug, cephalexin was commenced at Ankleshwar and the salbutamol inhalers at Nashik. Glaxo rated amongst the first five of India's most respected companies (4th place), in a survey by Businessworld magazine. An agreement was signed with the Council of Scientific and Industrial Research (CSIR) during 1991. In the year 1992, the company sold their trade investments in Vegepro and Feeds Ltd. In the year 1993, they sold their investment in Hindustan Foods Ltd and Dempo Dairy Industries Ltd. Cetzine, a second-generation anti-histamine and research product of UCB Pharma (Belgium) was launched under a co-marketing agreement. In the same year Glaxo received recognition from the Ministry of Commerce as an export house.
In the year 1994, the company sold their Family Products Division to H J Heinz for a sum of Rs 210 crore. The Mysore plant received ISO 9002 certification and the new Iodex plant was inaugurated in Bangalore. In the year 1995, they inaugurated the government approved state-of-the-art Pharmacy Research & Development Centre (PR&D) at Thane to cater to the unmet medical needs and to exploit local commercial opportunities.
In the year 1998, the company acquired Biddle Sawyer Group of Companies, which was struggled in the year before. In the year 2000, Agrivet Farm Care (AFC) tied up with Merial, the world's largest Animal Health Company, to market poultry vaccines. The company ranked 6th in 'Business Today' - Stern Stewart & Co. listing of India's best Wealth Creator Companies and also the launched Seretide for Asthma. The merger of SmithKline Beecham Pharmaceuticals (India) Ltd into Glaxo India Limited was completed and the name of the company was changed to the present name GlaxoSmithKline Pharmaceuticals Ltd. Businessworld and the Indian Market Research Bureau (IMRB) named GlaxoSmithKline as India's most respected Pharmaceutical Company in a survey in the year 2003. During the year, the company launched Cetzine (Cetirizine; anti-histamine), Zimig (terbinafine; anti-infective), CCM (calcium citrate maleate; nutritional), Cobadex CZS (multivitamin with trace elements).
In the year 2004, the company launched Priorix (measles, mumps, rubella vaccine). In the year 2005, the company launched oral contraceptives: Elogen (desogestrel and ethinylestradiol) and Zerogen (progesterone only pill). They entered into the diabetes therapeutic segment with the launch of Windia (rosiglitazone) and Windamet (rosiglitazone and metformin). In the year 2006, the company made an in-licensing alliance with Eisai Pharmaceuticals, Japan and launched Parit (rabeprazole; gastrointestinal therapy area). Also, GlaxoSmithKline divested their Agrivet Farm Care (AFC) animal health business. In the year 2007, the company launched Carzec (carvedilol) and Zemetril (cefprozil). In March 2007, the company opened new Medicinal Chemistry Laboratory at their R&D facility in Singapore. Also, they divested their other peripheral business of fine chemicals with consideration of Rs 240 crore on slump sale basis to Thermo Electron LLS India Private Ltd.
In the year 2008, the company increased the installed capacity of Tablets and Capsules from 6750 million nos to 6950 million nos. They increased the production capacity of Solids including Powders and Ointments from 1550 tonnes to 2225 tonnes. In January 2008, the company launched two of their new innovative Diphtheria, Tetanus and acellular Pertussis (DTP) vaccines, such as Boostrix and Infanrix. Also the company in well positioned to launch the breast cancer drug, Tykerb and the rotavirus vaccine, Rotarix during the year. Also, they rolled out three new Business Partnering initiatives during the year.
In the year 2009, the company launched new products, namely Benitec A (Olmesatan in combination with Amilodipine) in Cardiology, Dermocalm (Calamine lotion) in Dermatology, Ventorlin CFC free inhaler (Salbutamol) in Respiratory and Esblanem (Meropenem) in Antibiotic segments. Their Nashik site commenced manufacture and supply of Albendazole tablets to WHO for the Lymphatic Filriasis eradication programme.
In the year 2010, the company increased the installed capacity of Solids including Powders and Ointments from 2225 tonnes to 2600 tonnes. They launched some new products namely, Mycamine inj (Micafungin) in-licensed from Astellas and Parit D capsules (Rabeprazole in combination with Domperidone) in-licensed from Eisai. Cefspan (Cefixime - oral antibiotic) was relaunched with good success. Other branded generics launched during the year were Modvate 3 cream (Beclomethasone in combination with Clotrimazole and Neomycin) and Modvate AF cream (Beclomethasone in combination witr Clotrimazole) in Dermatology. Formulations of Atorvastatin and Rosuvastatin tablets were launchec in Cardiology under the brand names 'Lilo' and 'Rosutec' respectively. The combination of Paracetamol with Tramadol was launched under the brand name 'Calpol T'.
In the year 2011, the company foray into branded generics market. Zobactin is ranked as the No. 2 brand (Dec MAT 2011, H.S.A) in a market which has more than 56 brands of Piperacillin+Tazobactum. In the Meropenem market, Esblanem is ranked at 6th position (Dec MAT 2011, H.S.A). After the successful launch of Tykerb in 2008, they expanded their presence further by introducing two new segments, Kidney Cancer and Hematology with launch of Votrient and Revolade.
In 2012, the company Introduces Metered Dose Inhaler with dose counter. On 30 September 2015, the company announced the completion of its transaction with Novartis Healthcare Pvt. Ltd. (Novartis India) whereby the company has acquired Novartis' vaccines business and divested its marketed oncology portfolio to Novartis India. This follows a global transaction between GlaxoSmithKline plc, UK (GSK) and Novartis AG, Switzerland (Novartis) which was completed in March 2015 on the same basis. The acquisition of the vaccines business of Novartis provides GSK with an exciting opportunity to build an even stronger, sustainable global vaccines business. The transaction will enhance GSK's vaccines portfolio and bring together its expertise in virology, bacterial infection and technological platforms to deliver a reliable supply of high quality vaccines.
During the quarter ended 30 September 2016, the company successfully launched Priorix-Tetra, a combined measles, mumps, rubella and varicella vaccine.
During the quarter ended 31 December 2016, the company successfully launched EnteroPlus, a probiotic food supplement. The company also restored the manufacturing of a key brand, Neosporin, an antibiotic used to treat minor wounds.
During the quarter ended 30 September 2017, the company announced its intention to dispose of its surplus land at Thane in Maharashtra to Oberoi Realty for Rs 555 crore subject to receipt of all regulatory and statutory approvals, as well as various conditions as agreed with the purchaser.
During the quarter ended 31 December 2017, the company received the money in advance towards disposal of Thane land. During the quarter ended 31 March 2018, the company successfully launched Biopatch, a hydrophilic wound dressing that is used to cover a wound caused by the use of percutaneous medical devices. Biopatch is recommended in skin sterilization protocol to reduce the incidence of CRBSI. Patients at risk of CRBSI are the ones in ICUs, those receiving chemotherapy and patients undergoing dialysis through catheters.
The Company has allotted fully paid up equity shares of Rs 10 each during the quarter ended 30th September 2018, pursuant to a bonus issue in ratio 1:1, as approved by the members through postal ballot. 8,47,03,017 Bonus shares have been issued by capitalization of profits transferred from general reserve.
In December 2019, the Company launched Menveo a Quadrivalent Meningococcal Conjugate Vaccine.
During the FY2019, the Company spent Rs 291 crore as capital expenditure, mainly for the New Plant, Vemgal .
With an investment of over Rs 1000 crore, our upcoming manufacturing facility at Vemgal, Karnataka, will be the first greenfield pharmaceutical manufacturing site that GSK has built globally over the past ten years. It is also the first facility designed for the new GSK Production Systems (GPS), whereby it will deliver the concepts of zero accidents, zero defects and zero waste.
During FY2020,the company spent Rs 41 crore as capital expenditure, towards renovation of its corporate office into a modern workplace.
In September 2020, the Company launched tetravalent influenza flu vaccine, Fluarix Tetra to help combat influenza.
In June, 2021 Company launched the 'Nucala', first anti-IL5 drug, auto-injector device in India. It launched Trelegy Ellipta, the country's first single inhaler triple therapy (SITT) for the maintenance treatment of chronic obstructive pulmonary disease (COPD) patients. It launched Augmentin ES deploying technology in reaching out to key specialists in ear, nose and throat (ENT) and Paediatrics practice.
In 2022-23, the Company launched Shingrix, a vaccine for prevention of herpes zoster (HZ) and postherpetic neuralgia (PHN) in adults who are 50 years of age or older; launched Infanrix Hexa, vaccination of infants against diphtheria, tetanus, pertussis, hepatitis B, poliomyelitis and disease caused by Haemophilus influenzae type b; launched Synflorix against pneumococcal diseases and acute otitis media caused by Streptococcus pneumoniae and Non-Typeable Haemophilus influenzae (NTHi); launched Boostrix for immunisation against diphtheria, tetanus and pertussis in individuals; launched Havrix against disease caused by Hepatitis A Virus (HAV) from 1+ year of age; launched Menveo to prevent invasive meningococcal disease caused by Neisseria Meningitidis groups A, C, W-135 and Y; launched Fluarix Tetra for the prevention of influenza disease caused by the influenza A and B; launched Varilrix against varicella of healthy subjects and susceptible healthy close contacts.
Glaxosmithkline Pharmaceuticals Ltd
Directors Reports
<dhhead>Directors Report</dhhead>
The Directors of your Company are pleased to share their Report for the
year ended 31 March 2023.
1. Financial Results for the year ended 31 March 2023
( Rs. in crores)
Year |
2022-23 |
2021-22 |
Continuing Operations: |
|
|
Revenue from operations |
3216 |
3218 |
Other income |
102 |
76 |
Total income |
3318 |
3294 |
Profit before exceptional items and tax |
833 |
762 |
Add / (Less): Exceptional items |
(1) |
12 |
Profit before tax |
832 |
774 |
Less: Income tax expenses |
(227) |
(397) |
Profit for the year from continuing
operations |
605 |
377 |
Discontinued Operations: |
|
|
Profit before tax from discontinued
operations |
4 |
1708 |
Less: Tax expense of discontinued
operations |
(1) |
(394) |
Profit from discontinued operations after
tax |
3 |
1314 |
Profit for the year |
608 |
1691 |
2. Dividend
Your Directors' are pleased to recommend a dividend of
Rs. 32 per equity share for the year. This dividend for the year ended
31 March 2023 is subject to the approval of Members at the Annual General Meeting on 26
July 2023 and will be paid on or after 27 July 2023. If approved by the Members at the
Annual General Meeting, the dividend will absorb
Rs. 542 crores. The Board of Directors of your Company had approved the
Dividend Distribution Policy on 27 October 2016, and it is available on the Companys
website (https://india-pharma.gsk.com/media/6486/dividend-distrubtion-policy.pdf)
3. Management Discussion and Analysis
As required by Regulation 34(2) of the Listing Regulations, a
Management Discussion and Analysis Report given in Annexure A forms part of
this Report. The state of the affairs of the business along with the financial and
operational developments has been discussed in detail in the Management Discussion and
Analysis Report.
4. Directors
Mr. N. Kaviratne & Mr. S. Venkatesh ceased to be Independent
Director & Managing Director with effect from 26 July 2022 & 30 November 2022
respectively. The Board places on record their appreciation of the valuable services
rendered by Mr. N. Kaviratne & Mr. S. Venkatesh during their tenure and for their
contribution to the deliberations of the Board. Mr. B. Akshikar was appointed as Managing
Director from 1 December 2022 for period of four years and his appointment has been
approved by the Members through Postal Ballot.
As per the provisions under Section 149 of the Companies Act, 2013, the
Board and Members have approved the appointment of all the existing Independent Directors
viz. Mr. P. V. Bhide, Mr. A. N. Roy and Mr. D. Sundaram for second term of five years from
30 March 2020 and Dr. (Ms.) S. Maheshwari for a first term of five years from 18 May 2020
and Mr. M. Anand for a first term of five years from 16 May 2022.
The Independent Directors have submitted the Declaration of
Independence, as required pursuant to Section 149 (7) of the Companies Act, 2013, stating
that they meet the criteria of Independence as provided in sub-section (6).
During the year ended 31 March 2023, Five Board & Seven Audit
Committee Meetings were held, the details of which are given in the Corporate Governance
Report. The intervening gap between the meetings was within the period prescribed under
the Companies Act, 2013.
5. Remuneration Policy and Board Evaluation
In compliance with the provisions of the Companies Act, 2013 and
Regulation 27 of the Listing Obligations & Disclosures Regulations (LODR), the Board
of Directors on the recommendation of the Nomination & Remuneration Committee, adopted
a Policy on remuneration of Directors and Senior Management. The Remuneration Policy is
stated in the Corporate Governance Report. Performance evaluation of the Board was carried
out during the period under review. The details are given in the Corporate Governance
Report.
6. Familiarization programmes for the Independent Directors
In Compliance with the provisions of LODR, the Company has put in place
a familiarization programme for the Independent Directors to familiarize them with their
role, rights and responsibilities as Directors, the working of the Company, nature of the
industry in which the Company operates, business model, etc. It is also available on the
Company website: https://india-pharma.gsk.com/en-in/
investors/shareholder-information/policies
7. Particulars of Contracts and Related Party Transactions (RPT)
In line with the requirements of the Companies Act, 2013 and LODR, your
Company has formulated a policy on RPT. All RPTs entered into, during the year ended, were
on arms length basis and were in ordinary course of business. There were no
materially significant RPTs with the Promoters, Directors or Key Managerial Personnel
which may have a potential conflict of interest of the Company at large. The Policy of
RPTs can be accessed on the Company website:
https://india-pharma.gsk.com/en-in/investors/shareholder-information/policies/.
All RPTs are placed before the Audit Committee for review and approval.
Prior omnibus approval is obtained for RPTs on a quarterly basis for transactions which
are of repetitive nature and / or entered in the ordinary course of business and are at
arms length. All RPTs are subject to independent review by a reputed accounting firm
to establish compliance with the requirements of RPTs under the Companies Act, 2013 and
LODR.
8. Directors Responsibility Statement
Your Directors confirm:
(i) that in the preparation of the annual accounts, the applicable
accounting standards have been followed along with proper explanations relating to
material departures, if any; (ii) that the Directors have selected such accounting
policies and applied them consistently and made judgements and estimates that are
reasonable and prudent so as to give a true and fair view of the state of affairs of the
Company as on 31 March 2023 and of the profit of the Company for the year ended on that
date; (iii) that the Directors had taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the Companies Act, 2013
for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities; (iv) that the Directors have prepared the annual accounts on a going
concern basis; (v) that proper internal financial controls laid down by the Directors were
followed by the Company and such internal financial controls are adequate and were
operating effectively and; (vi) that proper systems to ensure compliance with the
provisions of all applicable laws have been devised and such systems were adequate and
were operating effectively.
9. Annual Return
In line with the requirement of the Companies (Amendment) Act, 2017,
effective from 31 July 2018, the extract of annual return, is no longer required to be
part of the Boards Report. However, copy of the Annual Return is available on the
Companys website (https://india-pharma.gsk.com/en-in/
investors/shareholder-information/annual-return/).
10. Business Responsibility and Sustainability Reporting (BRSR) &
Corporate Governance
A report on Business Responsibility and Sustainability Reporting
(BRSR), describing the initiatives taken by your Company from an Environment, Social and
Governance (ESG) responsibilities given in Annexure B, forms a part of this
Report. Your Company is part of the GSK plc group and conforms to norms of Corporate
Governance adopted by them. As a Listed Company, necessary measures are taken to comply
with the Listing Obligations & Disclosures Regulations, 2015 (LODR) with the Stock
Exchanges. A report on Corporate Governance, along with a certificate of compliance from
the Auditors, given in Annexure C, forms a part of this Report.
As per the provisions of section 139 of the Companies Act, 2013,
Deloitte Haskins and Sells LLP, Chartered Accountants were appointed as the Statutory
Auditors of the Company for a second term of five years at the 97 Annual General Meeting
held on 27 July 2022 to hold office from the conclusion of the said Meeting till the
conclusion of the 102 Annual General Meeting to be held in 2027 on a remuneration to be
determined by the Board of Directors.
Pursuant to the provisions of section 204 of the Act, and the Rules
made there under, the Company has appointed Parikh & Associates, Practicing Company
Secretaries, to undertake Secretarial Audit of the Company for the financial year March
31, 2023. The Report of the Secretarial Auditor is annexed to the Board Report as Annexure
E which forms a part of this Report. The Secretarial Audit Report does not
contain any qualification, reservation or adverse remark. Pursuant to Section 148 of the
Companies Act, 2013, the Board of Directors on the recommendation of Audit Committee have
appointed R. Nanabhoy & Co., Cost Accountants for conducting the audit of the cost
accounting records maintained by the Company for its Formulations for the year 2023-24.
The Committee recommended ratification of remuneration for year 2022-23 to the Members of
the Company at the ensuing Annual General Meeting.
11. Transfer of Equity Shares Unpaid/ Unclaimed Dividend to the
Investor Education Protection Fund (IEPF)
In line with the statutory requirements, the Company has transferred to
the credit of the Investor Education and Protection Fund set up by the Government of
India, equity shares in respect of which dividend had remained unpaid/ unclaimed for a
period of seven consecutive years within the timelines laid down by the MCA.
Unpaid/unclaimed dividend for seven years or more has also been transferred to the IEPF
pursuant to the requirements under the Act.
12. Compliance with Secretarial Standards
The Board of Directors affirms that the Company has complied with the
applicable Secretarial Standards issued by the Institute of Company Secretaries of India
(SS1 and SS2) respectively relating to Meetings of the Board and its Committees which have
mandatory application.
13. General
The information on conservation of energy, technology absorption and
foreign exchange earnings and outgo as stipulated in section 134(3) (m) of the Companies
Act, 2013, and the rules framed there under is attached herewith as Annexure F
which forms a part of this Report. The Disclosures pertaining to the remuneration and
other details as required under section 197(12) of the Companies Act, 2013 and the rules
made thereunder is enclosed as Annexure G which forms a part of this Report.
Pursuant to section 129(3) of the Companies Act, 2013, a statement in form
AOC-1 containing salient features of the Financial Statements of the
Subsidiary Company is attached. Although the audited statements of accounts, relating to
Companys subsidiary is no longer required to be attached to the Companys
Annual Report, the same is enclosed for better disclosure practice.
The information relating to top ten employees in terms of remuneration
and employees who were in receipt of remuneration of not less than Rs. 1.02 cores during
the year or
Rs. 8.5 lakhs per month during any part of the year forms a part of
this report and will be provided to any Shareholder on a written request to the Company
Secretary. In terms of Section 136 of the Act, the said report will be available for
inspection of the Members at the registered office of the Company during the business
hours on working day of the Company up to date of Annual General Meeting and through
electronic mode. The Members may write an email to in.investorquery@gsk.com by mentioning
"Request for Inspection" in the subject of the email.
14. Acknowledgments
The Directors expressed their appreciation for the contribution made by
the employees to the significant improvement in the operations of the Company and for the
support received from all other Stakeholders, including Members, Doctors, Medical
Professionals, Customers, Suppliers, Business Partners, and the Government.
The Board and the Management of your Company are indeed appreciative of
the substantial support being received from GSK Plc, the parent organization, in providing
new healthcare solutions which are products of its discovery labs and the technology
improvements which benefits your Company immensely.
On behalf of the Board of Director
|
Ms. R. S. Karnad |
Mumbai, 17 May 2023 |
Chairperson |
Glaxosmithkline Pharmaceuticals Ltd
Company Background
Incorporation Year | 1924 |
Registered Office | GSK House,Dr Annie Besant Road Worli Mumbai,Maharashtra-400030 |
Telephone | 91-022-24959595,Managing Director |
Fax | 91-022-24959494 |
Renu S KarnadBhushan Akshikar Company Secretary | A A Nadkarni |
Auditor | Deloitte Haskins & Sells LLP |
Face Value | 10 |
Market Lot | 1 |
Listing | BSE,MSEI ,NSE, |
Registrar | KFin Techologies Ltd Karvy Selenium Tow-B,31&32 Financial Dist,Nanakramguda ,Hyderabad-500032 |
Glaxosmithkline Pharmaceuticals Ltd
Company Management
Director Name | Director Designation | Year |
---|
D Sundaram | Independent Director | 2023 |
A A Nadkarni | Company Sec. & Compli. Officer | 2023 |
P V Bhide | Independent Director | 2023 |
A N Roy | Independent Director | 2023 |
Subesh Williams | Director | 2023 |
Renu S Karnad | Chairperson | 2023 |
Sunita Maheshwari | Independent Director | 2023 |
Manu Anand | Independent Director | 2023 |
Bhushan Akshikar | Managing Director | 2023 |
J. Chandy | Whole Time Director & CFO | 2023 |
Glaxosmithkline Pharmaceuticals Ltd
Listing Information
Listing Information |
---|
BSE_500 |
BSE_HC |
BSE_200 |
BSEDOLLEX |
CNX500 |
BSEMID |
BSEALLCAP |
MID150 |
LMI250 |
MSL400 |
BSEMOI |
BSEQUI |
NFTYLM250 |
NFTYMC150 |
NFTYMSC400 |
NFTM150Q50 |
NF500M5025 |
NFTYTOTMKT |
NFTYMIDSMH |
Glaxosmithkline Pharmaceuticals Ltd
Finished Product
Product Name | Unit | Installed Capacity | Production Quantity | Sales Quantity | Sales Value |
---|
Sales | NA | 0 | 0 | 0 | 3181.4007 |
Other Operating Revenue | NA | 0 | 0 | 0 | 34.9427 |
Others | NA | 0 | 0 | 0 | 0 |
Chemicals-Incl. Bulk Drugs | MT | 0 | 0 | 0 | 0 |
Vaccines | No | 0 | 0 | 0 | 0 |
Aerosols | No | 0 | 0 | 0 | 0 |
Liquids/Orals etc | KL | 0 | 0 | 0 | 0 |
Solids-Incl. Powders/Ointment | MT | 0 | 0 | 0 | 0 |
Tablets/Capsules | NoM | 0 | 0 | 0 | 0 |
Antibiotics-Formulation(Vials) | No | 0 | 0 | 0 | 0 |
Inhalation Products | No | 0 | 0 | 0 | 0 |
Cosmetics | KL | 0 | 0 | 0 | 0 |
Soaps | MT | 0 | 0 | 0 | 0 |